Homeowners insurance doesn’t need to be complicated. Compare rates from Virginia by city and insurance company below.
Home insurance is an optional — but important — product that works to keep your belongings safe in the event your home suffers damage from common incidents. Home insurance protects your house and property against a variety of circumstances, such as fire, theft, vandalism, or wind damage.
Unlike car insurance policies, homeowners policies aren’t governed by state legislation. Even so, there are major differences in homeowners insurance rates from state to state. Policy rates in US states may differ depending on the number and value of homeowners claims filed across the state, and depend on the value of the belongings and home insured on the policy.
The easiest way to find a cheap home insurance policy in Virginia is to shop around and compare rates from as many insurance companies as possible. Get an idea of how much home insurance costs in Virginia by referencing the below data. Remember: your rates may differ, depending on your coverage limits.
Rates for home insurance in Virginia will vary based on the insurance company you use. Virginia Farm Bureau provides the cheapest home insurance in Virginia — only $777 per year. This compares favorably to Virginia's average rate of $792, providing a $15 discount on average statewide homeowners insurance costs.
Begin the hunt for a homeowners insurance policy by reviewing the best Virginia insurance companies, listed below.
|Insurer||Average Annual Rate in Virginia|
|Virginia Farm Bureau||$777|
Home insurance rates in Virginia vary by city. Prices depend on locally specific variables such as the number of claims filed in the immediate area, meaning your specific ZIP code impact how much you pay.
The cheapest home insurance in Virginia is found in Dulles. An average home insurance policy in Dulles costs just $639 annually — $153 less than the state average. Reference the below table to see the cheapest cities in Virginia for home insurance.
|City||Average Annual Home Insurance Rate|
Your chosen amount of homeowners coverage has an impact on the insurance premiums you pay . In Virginia, maintaining $100K dwelling coverage costs an average of $501 per year, while carrying dwelling coverage up to $400K costs $1,377/year.
|Coverage Level||Average Annual Premium|
Homeowners have numerous choices to make when purchasing a policy, including the amount of their deductible. A homeowners deductible is the amount you are responsible for paying toward a covered loss. The deductible level you choose can major impact on your homeowners insurance rates.
In general, choosing a lower deductible means that your insurance premiums will be higher. This means that those seeking lower home insurance costs will want to think about getting a higher homeowners deductible. Remember: your homeowners deductible should not be so high that you would struggle to pay it in the event of a loss.
Below are some popular deductible options offered on most home policies along with corresponding average insurance costs.
|Deductible Amount||Average Annual Homeowners Insurance Rate|
If you want to save on homeowners insurance, consider purchasing both your car and home insurance policies from one company. A home and auto insurance bundle in Virginia can lead to substantial savings on auto insurance. Bundling policies in Virginia leads to yearly savings of $57.
|Avg. Annual Auto Insurance Rate (No Bundle)||Avg. Yearly Auto Insurance Rate (Bundle)||Annual Bundle Savings||Bundle Savings %|
Bundling home and auto policies is a great way to save. Get started today!
Looking for information on home insurance in a particular city? Check out our breakdown of large Virginia cities:
Yes - Esurance does provide homeowners insurance in Virginia.
Yes - GEICO provides homeowners insurance in Washington D.C.
Because hurricanes can cause such calamitous damage and completely ravage buildings altogether, insurers are reluctant to take on the full risk of hurricanes as a whole. If you live in Virginia, you could face increased risk of experiencing hurricane damage. In fact, 26, 960 single-family homes are at extreme risk of hurricane damage in Virginia.*
If you live near the coast, it's crucial to check and understand your homeowners insurance policy because usually a basic home policy won't be sufficient to cover hurricane damage — you would need separate flood and windstorm insurance policies, both of which would be applicable to pay for repairs or replacements. Depending on your location, your insurer may require a separate hurricane deductible if you live in a region that's at high risk for hurricanes.
*Source: Insurance Information Institute (https://www.iii.org/fact-statistic/facts-statistics-hurricanes)
|Company||Average Annual Rate w/ Hurricane Deductible|
|Virginia Farm Bureau||$621|
Flood damage — no matter the circumstances under which it occurs —is not covered by standard home insurance. To ensure your home is covered, buy insurance through FEMA's National Flood Insurance Program (NFIP) or via a private insurance company.
Flood insurance coverage from private companies may vary, but if you buy through the NFIP you receive:
If the value of your property and home exceed these limits, consider purchasing a policy from a private company for additional protection. Flood insurance is key in Virginia, which suffered $4, 361, 841 in 2016 flood insurance claims, according to data from FEMA.